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Time to Find New Markets for Our Oil

Posted October 27, 2014

Under Economic Issues, International Trade Issues

(Calgary Herald)

With the recent plunge in oil prices, the governments of Alberta, Saskatchewan and Newfoundland and Labrador may be looking nervously at the daily trading charts.

The federal government, while less dependent on energy prices, also has a stake in healthy prices.

Ottawa receives no royalties, but does accrue extra corporate and personal income tax because higher energy prices mean more company profits and more employment. If oil prices decline further, and in the medium to long term, federal room on priorities such as tax relief is threatened. Read more here.